Statement I: A shark can stay at a desired level in water without much expenditure of energy.
Statement II: Shark has a buoyancy regulating organ called the swim bladder.
Air bladder is absent in sharks (Chondrichthyes), and so they have to swim constantly to avoid sinking.
Bony fishes (Chondrichthyes) have air bladder acting as a hydrostatic organ helping the fish float easily at the desired level without much expenditure of energy.