Dropped iPhone in toilet, SIM card and slot is wet. Any fixes?

Lauren, rice is about the equivalent of doing nothing. It will not prevent corrosion and will not fix your phone. What it does is provide you with a false sense of doing something. Most corroded phones are the ones that where placed in rice. So I suggest that the very first thing you want to do is to not try to restart the phone. This may further damage your phone. You also do not want to try to charge it any further. The next thing to do is to clean it. Disassemble your phone using these guides. Once it is disassembled, you do need to clean it properly. You will need high grade isopropyl alcohol and a soft brush. Use this guide to see how to clean it. Even so it was written for a 3G all the points are still pertinent to your phone. While you are cleaning it, check for any broken, missing or burned looking components. When it is properly cleaned, replace the battery. All these steps are to avoid delayed failure caused by corrosion. Once all this is done, reassemble your phone and reevaluate.It is of course possible that your SIM card may have shorted out or your SIM card reader, but unless you clean it all properly, you can only guess. Hope this helps, good luck.