Which of the following statements accurately compares gray and white matter of the spinal cord?
1) Gray matter is located on the outer part of the spinal cord, while white matter is located on the inner part.
2) Gray matter contains cell bodies and dendrites, while white matter contains axons.
3) Gray matter is responsible for processing sensory information, while white matter is responsible for transmitting signals.
4) Gray matter is more abundant in the cervical region of the spinal cord, while white matter is more abundant in the lumbar region.