Preheat the oven to 350°F. Spray an 8×8 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 to 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 to 1½ minutes.
Lower the mixer speed to low and add the powdered sugar and milk. Increase the mixer speed to medium. Mix for another 1½ to 2 minutes, or until the frosting is smooth and fluffy.
Use a silicone spatula or an offset spatula to spread the frosting evenly.
Notes
It is very important that you do not over-mix or aggressively mix the flour in; otherwise, the cake will be very dense.
Oven temperatures vary and may need to be recalibrated periodically to ensure they are accurate. Make sure to check your cake at the lower end of the recommended baking time.