Preheat your oven to 350ºF. Prepare your 10-inch tube pan by greasing and flouring it. This step is crucial to ensure that your cake releases easily once baked.
In the bowl of your stand mixer, add the unsalted butter. Beat it at medium speed for about 6 minutes, until it’s light and fluffy. This aeration is key to achieving a soft texture.
Slowly incorporate the sugar into the butter mixture. Continue to beat for another minute; you'll want it to look creamy and well combined.
One by one, add the eggs, ensuring to beat just until the yolk disappears after each addition. This helps integrate air into the batter.
In a separate bowl, whisk together the all-purpose flour, baking powder, and salt. This step is essential to ensure even distribution of the dry ingredients.
In another bowl, blend the evaporated milk and heavy cream. This combination adds moisture and richness to the cake.
Now, it's time to combine everything. Add the dry flour mixture and the cream mixture to the butter mixture alternately. Start with one-third of the flour, half the cream, another third of the flour, the remaining cream, and finally the last third of the flour. This method helps maintain the cake’s lightness.
Once everything is combined, lower the mixer speed and beat the batter gently. It should be smooth and creamy.
Stir in the vanilla extract and almond extract. These flavors will elevate your cake!
Pour the batter into your prepared pan. Use a spatula to smooth the top, ensuring it’s evenly spread.
Place the pan in the oven and bake for 60 to 75 minutes. Check for doneness by inserting a long wooden pick; it should come out clean when the cake is ready.
Once baked, cool the cake in the pan on a wire rack for 1 hour. After that, gently remove it from the pan and let it cool completely on the rack.