How to split a stereo track into two mono tracks

Is there any way to split a stereo track into two mono tracks?

I imported a stereo audio file from my iPod that has drums on the left channel and bass on the right.

I’d like to split this into two files so I can manipulate these tracks independently.

If this is possible, could someone provide a step-by-step?

Thanks!

Alan

This might work

https://itunes.apple.com/us/app/m-s-processor/id679279744?mt=8

Don’t have it so don’t know.