Meiosis II resembles mitosis, where sister chromatids are separated. The phases are: Prophase II, Metaphase II, Anaphase II, and Telophase II. In Prophase II, chromosomes condense again, and in Metaphase II, they align at the equatorial plate. Anaphase II involves the separation of sister chromatids, and Telophase II results in the formation of four haploid cells.