Beat sugar, butter, and shortening. Add eggs and beat. Alternately beat in milk and flour. Add flavorings. Bake 325 degrees for 1 1/2 hours in prepared bundt pan. Let cool in pan, turn onto cake plate and spread glaze on top.
GLAZE: In sauce pan combine 1/2 c sugar, 1/3 c water, and 1/2 tsp almond extract. Bring to a boil. Remove from heat and pour over cake.