jebhavlik I presume you have a cd burner or mp3 audio extractor. If not, people might be able to suggest a whole rane of mp3 tools to do the job.
Might I suggest you try iTunes which will convert the songs to mp3 or m4a for you & can play & burn cd's:
Apple - iTunes - Download iTunes iTunes will also keep your music very well organised; artist>album folders; eg:
Albumwrap/iTunes
Then after extracting your music (or before), go to LW's menu Tools>Options>Sharing & press the Add button & direct it to the iTunes Music folder to select this to share. Alternatively go to LW's Library window then menu File>Add Folder to Share, & direct it to where your folders to share are (eg: below)