2 c. flour
1 1/2 c. sugar
1/2 c. oil
2 eggs
2 tsp. baking soda
1 (16 oz.) can fruit cocktail with juice

Bake 30 minutes at 375 degrees.

ICING:

6 oz. chocolate chips
1 stick butter
1 1/2 c. confectioners' sugar
1 c. can milk

Cook over low heat until thick. Add walnuts and pour evenly over hot cake.