My iPhone 4 fell in the toilet?

My iPhone fell out of my jeans pocket and into the toilet 3 nights ago. I pulled it out in about 20 seconds and immediately tried turning it on (I didn't know that you aren't supposed to). The screen turned on, flickered, and then I was left with the black screen of death.
It's been in rice since then, but it's not turning on or anything.
Is it possible that there's still liquid in my phone after 3 nights? What do I do?

Added (1). @Brieanne… I never said how old I was. It was a little impulsive of you to assume I'm a child, wasn't it? For all you know, I'm an 80 year old who keeps up with technology.

Put it in a bowl of rice

Yah it is. The memory cards wet. It can't be fixed. I would go and by a new one

There shouldn't be but maybe because you turned it on after you picked it out of the toilet that may be the reason it may not be working. Take it to a phone shop an ask what's wrong with it. But don't get it fixed straight away. Google it once you find out the problem to see Id there's a cheaper way.

Well, you've ruined it. Nice going! I hope you don't expect your parents to go out and buy you a new one. I can't believe how spoiled you kids are these days. If you earned the money yourself, you would have taken better care of it, and not taken it into the bathroom where it can fall into water and get ruined. Do your parents know about this yet?

Fail… Buy another one. That phone is screwed. Sell it on eBay ans list it as water damaged. It will get you around $100 i believe.

Are you stupid? It can't be fixed you idiot. You shouldn't have fxcking dropped it.

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