Line a 9-inch round cake pan with parchment paper. (You can spread some vegetable shortening onto the pan to make the parchment stick.)
Preheat oven to 325° F.
Whisk flour, cornstarch, baking soda and salt together in a medium-sized bowl. Set aside.
Add melted butter, sugar and brown sugar to the bowl of a stand mixer or a large bowl using a hand mixer. Beat on low speed and slowly increase to medium speed until blended. Scrape down the sides of the bowl with a rubber/silicone spatula, as needed.
Add egg, egg yolk and vanilla extract to the bowl with the butter/sugar mixture. Beat on low speed and slowly increase to medium speed. Mix until blended.
Gradually add flour mixture into wet ingredients on low speed and slowly increase to medium speed until completely blended.
Add sprinkles to the bowl with the batter and gently fold them in with a rubber/silicone spatula.
Spread cookie dough into prepared pan. Bake for 25-30 minutes in preheated oven. (Start checking cookie after 20 minutes. The cookie is ready when the edges are lightly golden and the center looks slightly underdone.
When the cookie is done, remove from the oven and cool in the pan on a cooling grid for about 30 minutes.
After the cookie has cooled in the pan for 30 minutes, pull the cookie out of the pan by grabbing two sides of the parchment paper. Finish cooling on the cooling grid until completely cool.
Frost with your favorite buttercream frosting. (You don’t need to make it fancy if you don’t want to. You can frost it however you like.)
Decorate with more sprinkles.
Cut into 8 servings. Enjoy!