Step 1: Understanding the Concept
Carbon dioxide dissolving in sea water forms carbonic acid, which gives bicarbonate and carbonate ions.
Step 2: Sedimentation
Carbonate ions combine with calcium and magnesium of sea water to form insoluble \(\text{CaCO}_3\) and \(\text{MgCO}_3\). These are also found in shells and coral skeletons and settle as sediments, later forming limestone and dolomite.
Step 3: Conclusion
Carbon locked this way leaves circulation. Sodium and potassium carbonates are soluble and do not settle. So it is held as carbonates of Ca and Mg.
Final Answer:
The carbon remains as carbonates of calcium and magnesium.
\[ \boxed{\text{(C) }\text{carbonates of Ca and Mg}} \]