command to install 32bit packages (lib32z1 lib32ncurses5 lib32bz2-1.0 lib32stdc++6) on ubuntu 16.4 LTS

You should keep your system free from 32-bit software. 32-bit is on the way out and never to come back. Get used to 64-bit. If possible ignore 32-bit software. Now that my opinion is out here ...

Your best method is it to install virtualBox or VM Ware player and install a 32-bit Ubuntu (links to the torrent of 32-bit 16.04.1) in it. Then install android studio. It will work better than mixing it up with your current install.

If you still want to install it in your current system then the method to install 32-bit should be to add the architecture, update and it then should have imported the 32-bit packagea,

sudo dpkg --add-architecture i386
sudo apt-get update
sudo apt-get install libc6:i386 libncurses5:i386 libstdc++6:i386 lib32z1

This will show ...

...
The following additional packages will be installed:
  gcc-5-base:i386 gcc-6-base:i386 libgcc1:i386 libgpm2:i386 libtinfo5:i386
Suggested packages:
  glibc-doc:i386 locales:i386
The following NEW packages will be installed:
  gcc-5-base:i386 gcc-6-base:i386 libc6:i386 libgcc1:i386 libgpm2:i386
  libncurses5:i386 libstdc++6:i386 libtinfo5:i386
0 upgraded, 8 newly installed, 0 to remove and 3 not upgraded.
Need to get 2960 kB of archives.
After this operation, 12,9 MB of additional disk space will be used.

And that should install the 32-bit components you need for android studio.