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Preheat oven to 350 degrees. Generously butter and flour an iron skillet and set aside.
In bowl of a stand mixer, or a large mixing bowl with a hand mixer, beat butter and sugar 3 minutes on medium speed until light and fluffy. Add extracts, then beat in eggs, one at a time, mixing well after each addition.
In medium bowl, whisk together flour, baking powder, and sea salt. Using a rubber spatula, fold dry ingredients into wet ones. Mix just until combined.
Pour batter into prepared skillet. Top with peaches, then strawberries. Gently press fruit into batter.
Place in oven and bake 40-50 minutes or until center of cake is set and top is golden brown. Remove from oven and allow to cool in pan 30 minutes before serving.