The ash which is collected after burning of magnesium ribbon is dissolved in water to give a solution X. What is the nature of the solution X when it is tested with indicators ?

It turns blue litmus red and phenolphthalein pink, hence it is an acidic solution

It turns red litmus blue and phenolphthalein pink, hence it is a basic solution

It does not change the colour of red or blue litmus and phenolphthalein, hence it is a neutral 

It turns blue litmus red and gives no colour with phenolphthalein , hence it is an acidic solution