Splitting Tracks

Hi. I have Cubase Elements 7. Just bought it. I can’t seem to find a way to split imported audio tracks into two separate channels. I want to be able to mute one track so I can play along with an Aebersold backtrack, which is designed so that you can mute whichever instrument you play so you can listen to the rhythm section, as an example.

So, is there a way to split tracks, and if so, how?

Thanks for any help.

On import.