How to make ringtones using iTunes 11?

I just got an Iphone 4s and I'm still trying to figure out how to make custom ringtones using an app i just got called MakeTones. After i create the ringtone it instructs me to sync my phone to iTunes and make the ringtone accessible using the file sharing method.however, I'm not familiar with how to do that with the new iTunes update (11.0.1.12).

You can edit a track in the toolbar and adjust the time settings for the songs so it's just a short segment. Drag and drop the song to your desktop. Change the file extension to M4R for ringtone. Drag the now ringtone file back into iTunes. It should work. Don't forget to change the time settings back on the original song.

New Itune 11.0.1 has no page called "tune" so it is not working like before

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