How to create ringtones with 11.1

I just installed iTunes 11.1 and for some reason trying to create ringtones isn't working anymore. I am doing it the same way I've always done it with other versions and for some reason now its not working. I get as far as changing the song to m4r but after that nothing. I was wondering if something has changed in this version or not or if anyone else is having trouble. PLEASE HELP!!!!!!!