Preheat oven to 350°F and spray 4 – 8-inch cake pans with Baker’s Joy® No Stick Spray with Flour; set aside.
In a large bowl, whisk together the flour, baking powder and salt; set aside.
In another large bowl, whisk together the milk, egg whites and extracts; set aside.
In the bowl of a mixer, cream the butter, oil and sugar on med-high speed for 3 minutes.
Scrape the sides of the bowl and mix an additional 30 seconds.
With the mixer on low speed, add 1/3 of the flour mixture followed by ½ the milk mixture.
Repeat until all the flour and milk have been used.
Scrape the sides of the bowl and mix an additional 30 seconds to 1 minute until the batter is smooth and creamy.
Evenly divide the batter into 4 bowls.
In one bowl add 1 drop red food coloring, in another add 3 drops red food coloring and in a third, add 12 drops red food coloring. Leave one bowl without any added color. Stir to blend.
Pour the batter into the prepared pans (one color per pan) and bake for 35-40 minutes or until a toothpick inserted in the center comes out clean.
Allow to cool in the pans for 15 minutes then remove from pans and cool on a wire rack.