Re: 1973 Bass Cat 115 Evinrude!
Why the links to other sites and suggestions for google searches? Everything you need to know can be found here and any work you need to do has been done and chronicled here as well with great descriptions and pictures.
Take some pictures of the crack in the transom and post it here. We'll be able to help you get started in what you will need to do in order to make a decision on what to do next.
Your transom is likely made of an outer "skin" of fiberglass (what you are saying has a crack in it), then probably 2 layers of plywood (3/4" each) and an "inner skin" of fiberglass.
Normally, we'd suggest you drill small holes in the transom from the inside and see if you've got nice dry wood or dark wet/rotted wood. Since you have a crack on the outside that needs to be repaired, if it's not just the gel coat, you may be able to drill some test holes there to check for rot.
Go ahead and pull that motor off though. You're going to have to do that anyway to fix the crack. You can sell it to help you pay for the proper motor for the boat!
Good luck and we are all looking forward to seeing your pictures!!!