Ingredients
Method
Place a rack in middle of oven; preheat to 350°. Grease bottom of a 9"-diameter cake pan with oil and line with a parchment paper round. Grease parchment paper and lightly dust with flour, tapping out excess.
Whisk 1¾ cups (219 g) all-purpose flour, 1 cup (200 g) granulated sugar, 1¾ tsp. Diamond Crystal or 1¼ tsp. Morton kosher salt, 1½ tsp. baking powder, and ½ tsp. baking soda in a medium bowl to combine.
Whisk 2 large eggs, ¾ cup sour cream, ⅔ cup vegetable oil, 2 Tbsp. fresh lemon juice, 1 Tbsp. vanilla extract, and ¼ tsp. almond extract in a large bowl until combined and smooth. Add dry ingredients all at once and gently fold in with a rubber spatula just until incorporated and batter is smooth (do not overmix).
Scrape batter into prepared pan and spread evenly. Bake cake until golden and a tester inserted into the center comes out clean, 30–35 minutes. Transfer pan to a wire rack and let cake cool in pan 30 minutes. Invert cake onto rack and unmold; carefully remove parchment paper. Let cool completely.
While the cake is cooling, using an electric mixer on medium speed, beat 2 oz. cream cheese, room temperature, and ¾ cup (1½ sticks) unsalted butter, room temperature, until fluffy, about 2 minutes. Stop mixer and add 1 cup (110 g) powdered sugar, sifted, 1 tsp. Diamond Crystal or ½ tsp. Morton kosher salt, 1 tsp. fresh lemon juice, and 1 tsp. vanilla bean paste or vanilla extract. Beat on low speed until incorporated, about 1 minute. Beat in remaining 1 cup (110 g) powdered sugar, sifted, until incorporated and frosting is lump-free, about 1 minute.
Place cake, right side up, on a cake stand or large plate. Mound frosting on top and spread over surface, leaving a ½" border around the edges. Using an offset spatula or a large spoon, make decorative swirls, swoops, and divots in frosting if desired. Top with sprinkles (if using).