What are the outcomes of mitosis and meiosis?

The outcome of mitosis is 2 genetically identical daughter cells that both form from a single parent cell (both having 2N chromosomes). A diploid cell begins with 2N chromosomes and 2X DNA material. Following DNA replication, the cells are still diploid, but have 4X the DNA content since each chromosome duplicated its DNA. The number of combinations of chromosomes remains constant, as there is no chromosome rearrangement.   

The outcome of meiosis is 4 haploid daughter cells which may develop into either egg or sperm cells. In meiosis I, each daughter cell has only one set or half the complete number of chromosomes of the parent cell. In meiosis II, each of the haploid cells formed in meiosis I are divided mitotically. The cytoplasm of the two cells becomes divided following cytokinesis, forming the 4 haploid daughter cells. It is important to note that there are various combinations of chromosomes possible for the 4 daughter cells. For example, in cells with 2 pairs of chromosomes, there can be 4 different types of combinations of the 4 chromosomes. This is because the separation of homologous chromosome pairs during meiosis 1 occurs independently of the separation of other pairs of homologs. With 23 pairs of chromosomes, there are over 8 million different combinations of chromosomes possible in a single gamete.