The given answer, option 1, indicates that statements 1 and 3 are correct. Let`s dissect each statement:

(1) The total land area of the earth is approximately 148.94 million square kilometers (slightly under 1490 lakh sq km), not precisely 1475 lakh square kilometers. However, considering the approximation and significant figures, this statement could be taken as correct.

(2) The ratio of land area to water area on earth is not correct as stated. About 71% of the Earth`s surface is water-covered, and the oceans hold about 96.5% of all Earth`s water. Thus the ratio is significantly skewed towards water, not 1.4 as mentioned, making this statement incorrect.

(3) The Pacific Ocean is the largest and deepest of Earth`s oceanic divisions. It covers more than 60 million square kilometers, which is more than twice the world`s second-largest ocean, the Atlantic. Therefore, the Pacific Ocean certainly holds the maximum percentage of Earth`s water, making this statement correct.

In conclusion, statements 1 and 3 are correct, thus the answer chosen (option 1: 1 and 3) aligns with the correct statements.