Easy Caramel Sauce (can be made ahead): Place all caramel sauce ingredients in a large glass bowl and stir to combine. Fill a saucepan with about 2 inches of water and bring it to a boil. Turn it to a low simmer. Set glass bowl over the saucepan (or use a double boiler) and simmer the sauce, stirring occasionally, for 1 hour. Pour into a jar and refrigerate for up to 2 weeks.

Preheat oven to 350 degrees F.

Wet ingredients: In a large bowl, cream together the butter and sugar until well blended. Add the eggs and mix well. Stir in the big pile of freshly grated apple.

Dry ingredients: In a separate bowl, mix together the dry ingredients.

Combine: Add dry ingredients to the wet ingredients and mix, just until incorporated. Stir in walnuts, if using.

Bake in a greased 9x13 inch pan for 45-60 min, or until a toothpick inserted in the center of the cake comes out clean. Allow the cake to cool for at least 10 minutes before serving.

Serve warm with caramel sauce and whipped cream or ice cream.