Which statement correctly compares and contrasts the three stages of cellular respiration that occur in the presence of oxygen?

Each stage occurs in the mitochondria, but only the final stage produces ATP.
Each stage produces ATP, but only the third stage occurs in the mitochondria.
Each stage produces ATP, but only the first stage occurs in the cytoplasm.
Each stage occurs in the cytoplasm, but only the final stage produces ATP.

Each stage occurs in the mitochondria, but only the final stage produces ATP.

The correct statement is: Each stage occurs in the mitochondria, but only the final stage produces ATP.