A small piece of potassium is added to a trough of distilled water. Only four of the following statements correctly describe what is observed or occurs during this chemical reaction. Identify the four correct statements from this list:

1. A lilac flame is observed.
2. The metal sinks to the bottom of the trough.
3. Potassium hydroxide solution is formed.
4. The reaction produces carbon dioxide gas.
5. The resulting solution turns universal indicator paper red.
6. Effervescence is observed.
7. The metal melts into a sphere.
8. Chlorine gas is produced.