Preheat oven to 350°F.
Line one 13x18-inch sheet cake pan with parchment paper (leave parchment paper slighter higher than the sides of the pan so it’s easier to lift the cake out after). Spray lightly with nonstick cooking spray, then set aside.
In a medium bowl, whisk the flour, baking powder, and salt together. Set aside.
2½ cups all-purpose flour, 3 teaspoons baking powder, ½ teaspoon kosher salt
In the bowl of a stand mixer fitted with the paddle attachment, beat (on high speed) the butter, granulated sugar, and vegetable oil together until well combined, about 2 minutes. Use a rubber spatula to scrape down the sides of the bowl.
¾ cup unsalted butter, 1¾ cups granulated sugar, ¼ cup vegetable oil
Add eggs and vanilla into the butter mixture and beat on high until light and fluffy, about 1 minute.
4 large eggs, 1 tablespoon pure vanilla extract
Beat the milk into the wet mixture just until combined, about 30 seconds.
1 cup milk
Beat the dry ingredients into the wet ingredients just until combined (using a spatula to scrape down sides and bottom of bowl). Do not overmix or the cake will not rise properly and will have a gummy-like texture.
Pour the batter into the prepared cake pan and bake for 28-29 minutes, or until a toothpick inserted in the middle comes out clean.
Remove cake from oven and let cool completely in pan before frosting, about 2 hours.
Make the frosting: In the bowl of a stand mixer fitted with the whisk attachment, beat the powdered sugar, butter, heavy cream, and vanilla together until light and fluffy, about 5 minutes. If the frosting seems too thick, beat in an additional tablespoon of heavy cream.
5 cups powdered sugar, 1 ½ cups unsalted butter, 3-4 tablespoons heavy cream, 2 teaspoons pure vanilla extract
Smooth an even layer of frosting over the top of the cake and decorate as desired (I colored part of the frosting with pink food coloring).