Preheat the oven to 350°F (175°C).
Grease and flour a 9x13 inch baking pan.
In a large mixing bowl, cream together the softened butter and granulated sugar until light and fluffy.
Add the eggs one at a time, mixing well after each addition.
Stir in the vanilla extract and mix well.
In a separate bowl, whisk together the flour, baking powder, and salt.
Gradually add the dry mixture to the wet ingredients, alternating with the milk.
Add the red food coloring until the desired shade of pink is achieved.
Pour the batter into the prepared baking pan, smoothing the top with a spatula.
Bake for 25-30 minutes, or until a toothpick comes out clean.
Allow the cake to cool in the pan for about 10 minutes, then turn it out onto a wire rack to cool completely.
Once cooled, dust with powdered sugar before cutting into squares.