From a fellow sprite artist's point of view, this wasn't bad. In fact, it was pretty darn good! I've always wanted to use the MK sprite sheets, but it seemed to take too long to rip, so that's +1 star. The length of it, and the quality, +2 more stars. However...the cons.
The bad parts AREN'T too bad, don't get me wrong. It's just that when Kabal was doing that spinning attack, the slow parts should've had a background effect, such as dimming the lights or something of the sort. Also, you can't see Lui Kang's finisher. Maybe it's just me, but I clicked him quite a few times and still nothing. Lastly, there is no pre-loader or re-play button. I know you're a beginner, but the AS coding for those two buttons isn't hard at all.
3/5, I wish you luck later on! :)