No-Fry Doughnuts

No-Fry Doughnuts was pinched from <a href="http://baking.food.com/recipe/no-fry-doughnuts-86705" target="_blank">baking.food.com.</a>
INGREDIENTS
2 (1/4 ounce) active dry yeast
1/4 cup warm water
1 1/2 cups warm milk
1/3 cup shortening
1/2 cup sugar
2 eggs
1 teaspoon salt
1 teaspoon ground nutmeg
1/4 teaspoon ground cinnamon
4 1/2-5 cups all-purpose flour
1/4 cup margarine
1/2 cup butter
2 cups confectioners' sugar
5 teaspoons water
2 teaspoons vanilla extract
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