Caramel Biscuit Ring-A-Round
["3/4 c. firmly packed brown sugar", "1/2 c. chopped nuts", "1/3 c. margarine", "2 Tbsp. water", "2 (7.5 oz.) cans refrigerated biscuits"]
["Heat oven to 400\u00b0.", "Generously grease 12-cup fluted tube pan. In small saucepan, combine brown sugar, nuts, margarine and water; heat until margarine melts, stirring occasionally."]
["brown sugar", "nuts", "margarine", "water"]