Preheat the oven to 350°F. Spray an 8x8 baking pan with nonstick spray, set it aside.
Using a medium-sized mixing bowl, whisk together the cake flour, granulated sugar, baking powder, and salt. Set it aside.
Using a medium-sized mixing bowl, whisk together the vegetable oil, milk, sour cream, egg, vanilla, and almond extract.
Gently fold in the flour mixture, folding just until the flour is incorporated.
Pour the cake batter into the prepared baking pan. Bake for 28 - 30 minutes, or until a toothpick inserted comes out clean.
Allow the cake to completely cool before frosting.
Frosting (optional)
Using a medium-sized mixing bowl, and a handheld mixer on medium-high speed, cream together the butter and vanilla for 1 - 1 ½ minutes.
Lower the mixer speed to low and add the powdered sugar and milk. Increase the mixer speed to medium. Mix for another 1 ½ - 2 minutes, or until the frosting is smooth and fluffy.
Use a silicone spatula or an offset spatula to spread the frosting evenly.