Re: 115 hp 2 cycle won't start
Either the rectifier blew and took out the stator, or the stator shorted out and took out the rectifier. I'm betting you have a later-model motor with distributorless ignition, since this type of problem on a distributor-fired motor wouldn't normally cause a loss of spark (unless the battery was drug way down from lack of charging).
So, if that's the case, you're gonna need a new stator and rectifier. You should be able to look up these parts here at iBoats.
Here's a few more resources to use:
http://www.mercruiserparts.com/SelectModelType3.asp?class_id=2
BTW it'd be of great service to the forum if you'd always post your Serial # and # of cylinders when you start a new mssg thread. That way we'll know exactly what we're dealing with. Check the 'sticky' at the beginning of the forum for info.
HTH............ed