During takeoff the instructor reported the C-172 began to run rough with the smell of smoke. The instructor landed the aircraft on the remaining runway.

Narrative

My pre-solo student and I were going to get a couple laps in the pattern. The oil was right above 6 quarts and about 12 hours away from an oil change. Everything seemed normal on the cold start-up; run-up was normal too. RPM drop from the mag check was a drop of 70 on both sides. We performed the run up when oil temp was at 80 degrees F. All engine gauges were green. I turned on the cabin heat during taxi. The oil temp and pressure were both in the green right before we took [Runway] XXR; and before we added power; and at full power before rolling. Acceleration was normal; at 55 kt; we began a normal rate climb.A couple seconds after rotation; the engine began running rough - a popping noise that got more aggressive as we climbed (this is where I recognized it as abnormal and began my decision to abort the takeoff) and we noticed a very slight burning smell. At what I would assume at most 100 ft. AGL; we saw sparks from at least the upper left side of the cowling. I took controls; moved the throttle to idle and landed on the remaining runway. The burning smell stopped after I pulled her to idle. We taxied off the runway and shut her down; and we had a tow bring us back.