No CKP(crank position) sensor if distributor is used.
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First thing to do is to pull the cap and crank the engine, is the rotor turning
I know pretty basic but I have wasted a few hours on other things when it was a bad distributor gear, lol.
Or in a 2.3l, broken timing belt.
Test for 12volts at coil's "+" terminal when key is on, use engine metal or battery as Ground(-)
Here is ignition electrical diagram for your year:
http://www.therangerstation.com/tech_library/EDiagrams/files/Diagrams_StartIgnition83to88_2_3.JPG
The coil gets power from the ignition switch, under the steering column, the key just pushes a rod that slides ignition switch into its various positions.
That same 12v power also goes to ignition module.
If you have no voltage here when key is on, run a jumper wire from battery + to coil +(do not remove wire that is already there) and then try to start engine, if it starts then most likely the ignition switch or the wire coming from ignition switch to coil is bad.
There is also secondary power that is used when starter motor is activated, primary power from ignition switch is cut at that time on some models.
The secondary power passes thru the Neutral safety switch(auto) or Clutch pedal switch(manual).
By jumping power directly to the coil you are also by passing this switch.
To test if coil is still getting power when cranking engine, just have someone crank engine while you have volt meter on coil's "+" terminal.
Voltage will drop down to about 10volts but shouldn't go below 8volts
You have a TFI ignition system.
Good read here on testing it:
http://www.therangerstation.com/tech_library/TFI_Diagnostic.shtml
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