In the bowl of an electric mixer, beat together shortening, butter, and powdered sugar.  Add eggs, one at a time, mixing in between each.  

Add flour, salt and lemon extract, and mix until well-combined.  

Pour and spread evenly into an un-greased angel food cake pan.  Put an oven-safe bowl filled with water on the bottom rack (below the cake) of the oven while baking to make cake moist).

Bake at 325 degrees Fahrenheit for approximately 1 hour 15 minutes (baking time varies).

Carefully turn the pan over to remove cake onto a plate. I ran a knife under my cake first to make sure it would come out cleanly. Dust with powdered sugar. Allow it to cool. Slice and serve!