Relationships regarding specific gravity

[stuw]

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I just want to make sure I'm on the right boat here.

Object that stays afloat = Weightless
Specific Gravity (aka density(o)/density(l)) = Volume(submerged)/Volume(total object)

Object that sinks to the very bottom = Has some weight to it
Fb + N = Fg
N=Apparent Weight
Specific Gravity = Weight of object/Buoyant Force

Does this sound right?

Also, say if an object stays afloat below the surface, but does not reach the bottom. Is this the instance where density of object = density of fluid?

 

[erythrocyte666]

Yeah that's all correct.
For the last question, I'd like to add what determines at what height the object floats while fully submerged? It could float just beneath the surface or halfway down the vessel (and still stay afloat and not sink to the bottom). Using the specific gravity eqn: density of object/density of fluid = 1 in both cases.