Audio Connection for BF 537 EZkit lite board

Hello Everyone,
           I am developing an Audio application project on ADSP Bf537
EZ-LITE board. I have developed compression and decompression algorithms
for the Audio samples. The algorithm is working fine and I have tested it.
           Now I want to achieve live recording and  output the recorded
samples at the speaker/headphone connected at "LINE_OUT" port of the board.
I have a Mike from "Zebronic", which I will connect to "LINE In" port of
the board by the Audio Connector. The "LINE IN" port of the board does not
provide power to the mike, so I am connecting the Mike Output parallelly 
to the "Mic" port in the PC which provides the power to the mike.
           Hence with the setup as described, "Mic" port of PC will drive
the Mike and Audio signal from the mike is sent via a "Audio  Connector" 
to the  " LINE IN"  port of the Board. I will record the Audio samples and
play it from the "LINE OUT" port of the board.

Now I have the following queries.

   1. Can I connect the "Mic"port of the PC  to the board via an Audio
Connector?? Will it cause any damage to the port pins of the board??.
   2. Is there any other option through which I can achieve the goal??

Regards,
Nithin K S