There are four stages of aerobic respiration- glycolysis, which takes place in the cell cytoplasm and the link reaction, Krebs cycle, and oxidative phosphorylation, which all occur in the mitochondria.Glycolysis splits glucose into 2 pyruvate molecules, producing 2 ATP molecules and 2 reduced NADH. The link reaction takes pyruvate and produces Acetyl CoA, carbon dioxide and reduced NADH.The Krebs cycle (aka citric acid cycle) uses Acetyl CoA to produce reduced FADH and NADH2, as well as ATP and carbon dioxide. These reduced compounds are then used in oxidative phosphorylation to create ATP through chemiosmosis.