Welcome to IT Garage, where were just guessing.
Is it perfect? No. Can you do it better? Maybe. Let me know how yours turns out!
This is about a Radio flyer wagon that I bought off FB marketplace for $20. Wanted something cool to take my daughter to car shows in this summer and she's still pretty young, so the wood sides will help make sure she stays in the wagon. I suggest using the nylon lock nuts on both sides of the wheel rather than the thread locker, but that's what I had laying around.