Beat butter and sugar together until creamy. Add egg yolks one at a time, beating well after each addition.

Gradually add 1/3 of the flour mixture, 1/2 of the cold water or milk, 1/3 of the flour mixture, the remaining water and the remaining flour mixture.

In a clean bowl, whip egg whites until stiff peaks form when beater is lifted from bowl. Gently fold egg whites into batter.

Spread batter evenly in a greased sheet pan.

Bake in a preheated 350°F oven until a toothpick inserted in center of cake comes out clean (about 25 minutes or until done).

Spread with a boiled frosting made of 3/4 cup of sugar, 1/3 cup of water and one egg white, beaten until stiff.