garinkoshinski39 this is more of an amendment to the previous answer. I do feel that it needs a bit more detail.
I suggest you treat it just like any other water damaged iPhone. The very first thing you want to do is to not try to restart, sync or otherwise try to use the phone. This may further damage your phone. The next thing to do, is to clean it. Disassemble your phone using [this guide You must remove all EMI shileds on your phones logic board or you are not clean 75% of it. Then clean it with +90% isopropyl alcohol. Follow this guide , and even so it was written for a Apple iPhone 3G all the points are still pertinent to your phone. While you clean your board, check for any obvious damage, like burned or missing components etc. The best way to clean it would of course with an ultrasonic bath, so you may consider a professional service for that. When it is properly cleaned, replace the battery. This is not an option but a must. Any Li-Ion battery that was exposed needs to be replaced since it will fail. Lithium and water do not go well together. All these steps are to avoid delayed failure caused by corrosion. Once all this is done, reassemble your phone and reevaluate. Remember that water damage is the most difficult to repair since virtually any part may have failed. You can try to get your phone to power up again, but keep in mind that it is still a damaged phone afterwards.