The first thing to do is take it apart and dry it out thoroughly and see if there is any visible damage or burned componants.
It's possible the motherboard is indeed burned out or shorted out and it's also quite possible that any number of other componants have burned out as well. The only way to know is to test them out. For the most part it could easily cost almost as much to repiar that laptop as it would to replace it so unless you know exactly what componant has failed it probably isn't a good idea to just start replacing parts trying to diagnoise the problem.
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