Heat oven to 325°F (160°C). Have an ungreased 10 inch (25 cm) tube pan ready.

Beat egg yolks in a small bowl with electric mixer until very thick and fluffy about 5 minutes at high speed. Add sugar gradually, beating well after each addition. Turn mixer speed to low and beat in water, vanilla and almond extract.

Sift flour, baking powder and salt together onto waxed paper and add to egg yolk mixture. Beat on low speed until smooth, scraping down the sides of the bowl often.

Wash beaters very carefully to be sure all egg yolk mixture is removed. Beat egg whites and cream of tartar in large mixer bowl until stiff. Add about 1/2 of the egg white mixture to the egg yolk mixture and fold together with a rubber scraper. Turn the blended mixture into the bowl containing the remaining egg white mixture and fold the two mixtures together gently but quickly.

Pour batter into tube pan. Bake 60 to 65 minutes or until top springs back when touched lightly. Invert immediately on a funnel or the neck of a bottle and let hang upside down until cool. Turn out on cake plate, leaving top side down if you are icing the cake or turning top side up if you are serving it plain.