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The substitutes for cake include pastries, jello, pudding, pie, brownies, fudge, donuts, and Belgian waffle a la mode.  These have a positive cross elasticity to cake.  The complements to cake include ice cream, coffee, tea, raspberry/strawberry wine.  These have a negative cross elasticity to chocolate cake.  The price elasticity of demand of chocolate cake is elastic.  As the price of cake increases, the total revenue decreases.  As the price of cake decreases, total revenue increases.  Determinants of the price elasticity of demand for cake are good substitutes (e.g., pies, donuts), competition i.e., competing bakeries and food stores, consumption of cake for ceremonies, holidays, and special occasions and throughout the year, and brand loyalty.  I would characterize the income elasticity of demand for cake as small income elasticity that is stable over economic cycles.
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