CLion says 'Process finished with exit code 127'

So I am running a sample c code Hello World project that appears when you make a new c project:

main.c:

#include <stdio.h>

int main() {
    printf("Hello, World!\n");
    return 0;
}

CMakeLists.txt:

cmake_minimum_required(VERSION 3.15)
project(untitled1 C)
set(CMAKE_C_STANDARD 99) 
add_library(untitled1 library.c library.h main.c)

When I press Run, earlier it was giving me "error 12, permission denied" so I modified the file permissions. Now I am getting the following in the Run window:

/Users/alan/CLionProjects/untitled1/library.c

Process finished with exit code 127

I googled but cant seem to find any solution.

The following is the image of the preferences: