Preheat the oven to 350°F. Grease a round cake pan with oil or shortening.
Whisk all cake ingredients with an electric mixer, medium speed until thoroughly mixed, about 2 minutes.
Pour batter into round cake pan and bake 40-45 minutes until golden and set.
While baking, combine lemon juice from one lemon, powdered sugar, whisk until combined into an icing.
Remove from oven, let cool, drizzle with icing and serve.