1. Whisk together all wet ingredients in a large bowl until combined. Set aside.
2. In a large mixing bowl, whisk together all dry ingredients until combined.
3. Add wet ingredients to dry ingredients and mix on medium high until completely combined.
4. Add cupcake liners to cupcake pans and fill liners about 3/4 full with batter.
5. Bake at 350 degrees for 18-20 minutes or until a toothpick inserted comes out clean.
6. Allow to cool for a few minutes and then remove to a wire rack to finish cooling.
WHILE THE CUPCAKES ARE COOLING, MAKE THE FROSTING:
1. Beat the cream cheese, butter and shortening until smooth.
2. Slowly add 3 cups of powdered sugar. Mix until combined.
3. Mix in the vanilla extract.
4. Add the rest of the powdered sugar and mix until smooth. Add a teaspoon or two of cream or water, if needed, to get the right consistency.
5. Ice the cupcakes when they are cool.