an antique Johnson with a no-spark condition is not a difficult thing to overcome.
First thing is to remove the flywheel, please use proper tools and a puller, do not hammer on the flywheel nut to try and break the flywheel loose from the taper on the crankshaft.
Clean and dress your contact points and make sure the gap is set @ 0.018", you can check it through the little window in the flywheel after you put it back on the taper (don’t tighten the nut though).
Check al your connections and make sure the wiring is intact and that there are no broken or frayed wires.
You can check your coil for continuity like many others do, but I’ve never done that flipping test in my life on a Johnson motor. If the coil casing isn’t mechanically or physically damaged, the coils are usually always good.
Clean tight connections, no loose or frayed wires, clean and properly adjusted points, then put your flywheel back on and spin by hand, and that KF-45 (nice find, by the way) ought to start firing plugs again. Once you spin it by hand and verify you have fire, you can tighten down the flywheel nut and rope it over for real.
Hope this helps.
Best,
PM T2
He's livin' in his own private Idaho..... I hope to go out quietly in my sleep, like my grand-dad did..... and not screaming, like the passengers in his car...