A wooden cubical block ABCDEFG of mass m and side a is wrapped by a square wire loop of perimeter 4a, carrying current I. The whole system is placed on frictionless horizontal surface in a uniform magnetic field $\overrightarrow{B}={\text{B}}_{\text{O}}\hat{j}$ as shown in figure. In this situation, normal force between horizontal surface and block passes through a point at a distance x from centre. Choose correct statement(s).