Heat oven to 350°F. Grease bottom and sides of 13×9-inch pan with shortening; lightly flour (or spray pan with baking spray with flour). In large bowl, beat cake ingredients with electric mixer on low speed 30 seconds, scraping bowl occasionally. Pour into pan.
Bake 30 to 35 minutes or until toothpick inserted in center comes out clean. Cool completely, about 1 hour.
In chilled small bowl, beat whipping cream on high speed until soft peaks form; set aside. In medium bowl, beat cream cheese, powdered sugar and vanilla on medium speed until well blended. Fold in whipped cream.
Frost top of cooled cake with whipped cream mixture. If desired, frosted cake can be refrigerated up to 6 hours. To serve, cut cake into squares; place on individual dessert plates. Top with strawberries.