Preheat your oven to 180 C (350 F), grease a 9x13 baking dish with butter or non stick spray.
Add all Cake Ingredients to a large mixing bowl and stir to combine.
Pour batter into the prepared baking dish and spread out evenly.
Bake for 40 minutes or until a toothpick comes out clean.
About 10 minutes before the cake is due to come out of the oven, it is time to make the topping. To a saucepan, add all the topping ingredients and set the pan on medium heat.
Bring to a boil, always stirring, and continue to boil for 2 minutes. Remove from heat and set aside.
After the cake is removed from the oven, go ahead and pour the topping over the hot cake and spread out evenly.
Allow cake to cool, then slice, plate, and add a spoon of whipped topping and a maraschino cherry. Enjoy.