Which one of the following images numbered as (1), (2), (3), (4) will be the next image for the given series?

The logic followed is:

Going from the Image 1 to Image 2, Below mentioned steps are followed-

Step (1): The color of square of the top left corner changes from Light to Dark.

Step (2): No. of arrows are increased by 1.

Step (3): No. of the small squares are decreased by 2.

Now, going from Image 2 to Image 3, Below mentioned steps are followed-

Step (1): The color of square of the top left corner changes from Dark to Light.

Step (2): No. of arrows are increased by 1.

Step (3): No. of the small squares are decreased by 2.

Now, this sequence will continue till last, and following the given steps we can say that the Next image after image 4 will be as shown below-

Here, this is similar to Option (1).

Hence, "Option 1" is correct.