Use a mixer to cream together Granulated Sugar (1 cup) and Butter (1/2 cup) on medium speed for eight minutes. Add Large Egg (2) to the mixer and combine them. Add Lemon Extract (1 teaspoon), Lemon (2) while mixing. In a separate bowl, combine All-Purpose Flour (1 1/2 cup), Baking Powder (1/4 teaspoon), Baking Soda (1/4 teaspoon) and Salt (1/2 teaspoon). Add one half of the mixture.
For the wet ingredients: add Buttermilk (1/4 cup) and Lemon (1/2 cup) to the mixer. Mix until smooth. Add the remaining flour mixture and mix until everything is smoothly combined..
Pour your mixture into a greased and lined, eight by five and a half inch low pan. Even out the top. Put it in the preheated, 350 degrees F (180 degrees C) oven for 45 minutes.
Let the cake cool for some time. Mix Powdered Confectioners Sugar (1 cup) and Milk (1 1/2 tablespoon) until it is nice and thick. Mix in Vanilla Extract (1 1/2 teaspoon). Drizzle the mixture on the cake with a whisk and let it sit until it hardens up, for about an hour.
For the garnish, you may put lemon slices on the cake. Time to serve!