Well, what I would do is pull the tank and rig a temporary gas supply (be sure to close the vacuum line on the intake to cylinder 1), then start it up and start poking stuff. You can pull a spark plug wire (watch out, I always get a good shock) and see what happens. If #2 really isn't running, then pulling that wire will have no effect on the running of the engine.
So if you isolate it to one cylinder, then yes, check for spark (watch out... don't get shocked). You can pull the plug and examine it. You can stick the plug back into the wire cap and then hold it to the frame and check for spark at the plug. If you've got spark then it's likely a carb problem.
Did I mention it's most likely a carb problem?
Since you've got the tank off, it'll be straightforward to remove the air box. Then you can look down the barrel of the carb and see if it's pulling fuel (the plug should be in for this). You can stick your hand over the carb barrel and see if it pulls fuel (this will be obvious). Etc etc etc...
You may find that it's getting too much fuel (flooding) from a stuck float or fouled float needle. or maybe the pilot jet is plugged. etc etc etc...
If you find it's carb related, be prepared to tear down that whole carb: float bowl, float, pilot jet, main jet. cap, diaphragm, needle, clean it all really well, blow air through every orifice. run a stiff wire through every orifice etc etc etc.
A