Re: it sank....
You can also use a hair dryer to help get some heat on the electronics.
If the electrical system still works after drying, you'll want to remove the spark plugs, stick them back in their boots, and lay against the block. Crank the engine over for a few seconds. This will blow any residual water out of the cylinders and you can also check for spark.
If you don't have spark, you need to oil up the motor's innards and get it to a shop. Regardless, drain the crankcase and refill. If there's spark, you've a chance to get it running again.
If the carbs have drain plugs or a jet plug that's a low point, remove those, hook up fresh gas to the motor and flush out. Catch the effluent with shop rags or other suitable container.
Don't forget to change the oil filter when you drain/refill the engine oil in preps for running the motor.
It probably wouldn't be a bad idea to add some fuel conditioning additive like Seafoam (or any outboard mfr's equivalent) to the fresh gas. In fact, a few ounces of Seafoam in the oil ain't gonna hurt either!
If you get it running, take it out and run it at a good clip for at least an hour. You want to get it warmed up thoroughly so the last vestige of water will cook out of the innards.
As soon as you're done running, change the oil and filter again.
HTH & Good Luck............ed