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To prepare cake: Preheat oven to 350°F. Grease and lightly flour two 9-inch round cake pans or one 13-by-9-inch baking pan; set aside. Stir together flour, 1/2 cup cocoa, baking powder, baking soda, cinnamon and salt; set aside.
Beat 1/2 cup shortening in a large bowl with an electric mixer on medium to high speed for 30 seconds. Add sugar and 1 teaspoon vanilla; beat until well combined. Add eggs, one at a time, beating well after each. Add the dry mixture and water alternately to beaten mixture, beating on low speed after each addition just until combined.
Spoon batter into prepared pan(s), spreading evenly. Bake for 30 to 40 minutes or until a wooden toothpick inserted near the center comes out clean. Cool the layer cakes in pan on wire racks for 10 minutes. Remove from pans. Cool thoroughly on wire racks. Or, place the 13-by-9-inch cake in the pan on a wire rack; cool thoroughly.
To prepare glaze: Combine chocolate chips and 1 tablespoon margarine (or butter) in a heavy saucepan; cook over low heat, stirring constantly, until chocolate begins to melt. Immediately remove from heat; stir until smooth. Set aside. In another saucepan, stir together whipping cream and corn syrup. Bring the mixture to a gentle boil. Reduce heat; cook, uncovered, for 2 minutes. Remove from heat. Stir in the chocolate mixture. Cool to room temperature.
To prepare frosting: Beat together cream cheese, butter (or margarine) and vanilla until light and fluffy. Gradually add 2 cups confectioners' sugar and cocoa, beating well. Gradually beat in the remaining 4 1/2 cups confectioners' sugar until smooth. Beat in milk, if needed, to reach spreading consistency.
Frost the tops and sides of the layers or the top of the 13-by-9-inch cake, reserving 1 cup of frosting to make chocolate "drops." Drizzle with glaze. Add chocolate "drops" around base of cake. Then pipe on top of cake. (To make chocolate "drops," spoon reserved frosting into a pastry bag fitted with a large round tip.) Cover and chill to store.