Working on a 92 Force 90 hp model 906X92C that will not start. Has a new battery and cranks over however no spark to plugs. First thing I checked was the kill switch and that appears OK. I then pulled the flywheel and found a dislodged and cracked magnet. So I am guessing I will need a flywheel right off the bat. True statment or can I just re-glue the broken magnet back on?? Also I am wondering the condition of the stator as I have read in other forums that a busted magnet almost always takes out the stator. Also hearing that the stators inclosed in a black housing are infamous for low speed burnouts. It was suggested to also check stator voltage and I am wondering if the voltage readings are AC or DC??? Whatever the case I have (ac/dc) 98/42 volts from the blue wire and 16/4 volts from the red wire. I understand the voltage readings are supposed to be blue/red 200/20 volts respectively.

Am I on the correct troubleshooting track?? I am looking for advice on how to proceed from here and the best place to buy parts......THANKS !!!

If the magnet is still intact glue it back on 5200 works well
As for voltages the readings can only be accurately using a peak reading voltmeter or a Direct Voltage Adapter (DVA). A conventional voltmeter cannot react quick enough to give correct readings.
You can usually get a good idea of the stators condition doing a simple resistance check.