1-1/2 c. Vegetable Oil

1-1/2 c. Sugar

1/2 c. Brown Sugar, packed

3 Eggs

3 c. All-purpose Flour

2 t. Ground Cinnamon

1/2 t. Ground Nutmeg

1 t. Baking Soda

1/2 t. Salt

3-1/2 c. Apples

1 c. Walnuts

2 t. Vanilla Extract

Caramel Icing:

1/2 c. Brown Sugar, packed

1/3 c. Light Cream

1/4 c. Butter or Margarine

1/4 c. Confectioners Sugar

Chopped Walnuts