Preheat the oven to 350 degrees and line a 9x9 baking dish with parchment paper.
In a mixing bowl, beat together the butter, cream cheese, sugar until light and creamy.
Add in the egg, egg yolk, and vanilla and almond extract.
Add in the flour, baking powder, and salt and mix on low until just combined.
Add the batter to the prepared baking dish and spread it until it's even.
Bake for 20-25 minutes until edges are slightly golden brown and the center is set.
While the sugar cookie bars cool, make the frosting.
Beat together the butter and powdered sugar. It will be very powdery still.
Add in the heavy cream, vanilla, almond extract, and food coloring until your desired shade of pink is reached.
Once sugar cookies are completely cool, spread the frosting evenly over the bars and top with any sprinkles!