Consider the following reaction sequence:
$\text{Compound } (x)$ $\xrightarrow[(ii) H_3O^{+}]{(i) CO_2, NaOH, 120^{\circ}C, \text{high pressure}} \text{Compound } (y) \text{ (Major Product)}$
$[76.6\% C, 6.38\% H, \text{vapour density } 47]$
Compound $(y)$ develops a characteristic color with neutral $FeCl_3$ solution.
Identify the $INCORRECT$ statement from the following for the above sequence.

• A
  Both compounds $x$ and $y$ will dissolve in $NaOH$.
• B
  Compound $y$ will dissolve in $NaHCO_3$ and evolve a gas.
• C
  Compound $x$ is more acidic than compound $y$.
• D
  Both compounds $x$ and $y$ will burn with a sooty flame.