Preheat oven to 425°

Combine all ingredients in a large mixing bowl. Stir until well blended. If using electric mixer, mix on medium for about 2 minutes.

Pour batter into a large piping bag. Add a chip clip to the top of the bag and snip the tip of the bag.

Generously spray donut pans with baking spray.

Using the piping bag, fill each donut well 3/4 of the way full.

Bake for 10 minutes. Check for doneness using a toothpick. Add two minutes if needed.

Remove from oven and transfer to cooling rack with parchment paper or baking mat beneath it. Allow to cool for at least ten minutes.

Pour caramel sauce into small bowl. Turn each donut upside down and dip into the sauce. Flip over and place on cooling rack.

Add sprinkles if desired.

Place in airtight container for storing.