Hi Shannon
Norm will get you sorted but something to try first. Looks like you have a lot of rust build up on the flywheel and magnets, these need to be clean or it will effect spark. Take the coil off, clean the flywheel magnets with emery til they look like bare metal and clean the coil pick ups as well, re fit coil, set air gap and check to see if you have spark, you might get lucky. The black wire is for the kill switch when you shut the engine off, you can disconnect this when checking for spark to eliminate the wire being the cause.
Cheers
wce
