From Janet Baxter
1 stick margarine
1/2 cup shortening
2 cups sugar
5 egg yolks
2 cups all-purpose flour
1 tsp. baking soda
1 cup buttermilk
1 tsp. vanilla
1 can (3.5 oz.) coconut
1 cup chopped pecans
5 egg whites, beaten
Using an electric mixer, beat margarine and shortening until creamy. Add sugar and beat well. Add egg yolks one at a time. Sift flour and soda together and add alternately with buttermilk, still using electric mixer. Add coconut and pecans. Fold in beaten egg whites. Pour into 3 greased and lined 8- or 9-inch cake pans and bake at 350 degrees for 45 minutes, until sides break loose from pan. Remove from oven and cool on wire rack before removing from pans.
Cream Cheese Frosting
8 oz. pkg cream cheese
1/2 stick margarine
1 pkg. confectioners’ sugar
1 tsp. vanilla
Chopped pecans
Using electric mixer, beat together cream cheese and margarine until creamy. Add sugar and vanilla; beat well. Frost cake and sprinkle top and sides with chopped pecans.