Step 1: Understanding the Concept
Glycolysis breaks one glucose molecule into two molecules of pyruvic acid in the cytoplasm.
Step 2: Check each statement
Two ATP are used in early steps and four ATP are made by substrate-level phosphorylation, so ATP is both spent and produced (net gain of 2).
Pyruvic acid is the end product.
Step 3: Carbon dioxide
No \(\text{CO}_{2}\) is formed in glycolysis.
The first decarboxylation occurs when pyruvate changes to acetyl CoA, and more \(\text{CO}_{2}\) comes from the Krebs cycle.
Final Answer:
The incorrect statement is the formation of carbon dioxide, option (D).
\[ \boxed{\text{(D) }\text{formation of CO}_{2}} \]