Hi and welcome to the site. There are a number of really good guys here that can advise you on the engine etc. But from my own experience and reading the manual for my engine, the engines compression should be checked with the engine warm and all plugs removed. I'm thinking that if it sat for any length of time it probably needs to be run a little before you can get an accurate compression test. It's entirely possible/probable that you have stuck rings from the sitting. 
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1987 V20 w/1987 150HP Yamaha on a Shoreland'r Trailer
1978 16.5 Airslot w/1996 120HP Force on a Four Winns trailer
1996 V21 w/1993 200HP Mercury on a Shoreline Trailer
All towed by a 5.7L Hemi Durango.
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