1991 Subaru Legacy Car won't start

About four months ago my water pump went out. I put a new one in and replaced the fuel filter, pcv valve, and plug cables. It has been on blocks for months because I put a new suspension in and didn't receive all my parts until a couple days ago. Yesterday I finally got the chance to start it up but it wouldn't start. It will crank but not start. It will crank normally for a couple seconds, then slow down even when I have it jumped. I checked to see if fuel would come out of the filter when I crank it and it does. I also removed one of the plugs and cranked it to see if it was sparking. It didn't appear to spark. The fuel pump is working so it must be either ignition or compression. It must be ignition since I am not getting a spark, unless I didn't test it right. What is my problem? Is it possible the timing belt jumped a tooth and the problem is compression or is it most likely ignition?