With respect to lipoprotein transport and metabolism in the body, the following statements are correct EXCEPT: 1) Arterial walls contain cells with LDL receptors. 2) Cholesterol is required for the formation of red blood cell membranes. 3) Chylomicrons are synthesized in the liver. 4) HDL is assembled in the extracellular space. 5) VLDL transformation to LDL occurs in adipose tissue.