All-In-One Cake & Frosting

All-In-One Cake & Frosting was pinched from <a href="http://www.dominosugar.com/recipe/all-in-one-cake-and-frosting-619" target="_blank">www.dominosugar.com.</a>
INGREDIENTS
6 oz. - cream cheese, softened
1 cup - butter or margarine, softened (2 sticks)
1 tablespoon - vanilla extract
1 - (2 lb.) pkg. Domino® Confectioners Sugar
2/3 cup - milk
4 - large eggs, slightly beaten
2 1/2 cups - all-purpose flour
1 teaspoon - baking powder
1/2 teaspoon - salt
2/3 cup - water
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