Cream the butter and sugar until light and fluffy, then beat in the egg, vanilla, and almond extract. Mix in the flour, baking powder, and salt just until combined.

Divide the dough into two disks, wrap, and chill for at least 2 hours.

Roll one disk on floured parchment to 1/4 inch thick, cut shapes, and place on a parchment‑lined baking sheet.

Bake at 350°F for 10 to 12 minutes until edges are just golden, cool on the sheet 5 minutes, then transfer to a rack to cool completely.

Beat powdered sugar, meringue powder, and water until glossy and thickened, then thin half with water for flooding consistency.

Pipe a border with the thick icing, fill with the thin icing, add sprinkles while wet, and let set completely for at least 2 hours.