Motorcycles, Snowmobiles, Go-Carts, ATV's and Golf Carts - help starting go-cart engine

I just bought a go-cart at an auction. the engine will not start. There are two levers on the engine, one with a choke symbol and one with a gas symbol. Can anyone please tell me the respective positions these are supposed to be in when starting? There is an arrow for the gas to the right and the choke to the left.
Also, I am not getting spark. I pulled the plug and it is completely black, and no visible spark when you pull the crank.
The engine appears to be a Power King. Any comments on whether that is a good brand in general.
thanks in advance.

Power King is a low end engine (I think it's a Chinese copy of Honda). I would not spend too much money to get it working.

You need three things to make an engine run: fuel, compression and ignition. It sounds like you have already found that you do not have ignition (spark). Playing with the levers on the carb will not help unless you can get a spark.

The lever with the arrow is probably the fuel on/off. Sliding the lever in the direction of the arrow turns the gas on.

The choke lever probably chokes the engine (for starting) when slid to the left. Slide it to the right once the engine is running.

check to see if theres a toggle switch that may be off. that may be why no spark. also pull air filter will help to see if other levers are opening choke on carb.:)