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Unfortunately with water damage the camera may work for a few days or even weeks after you first dry it out, but then it will stop working completely. If you have corrosion from water exposure then the camera is gone, it's not worth trying to fix. Even if you replace the main PCB it probably has damage to the lens, LCD screen and flash as well.
Thomas Drayton Owner, Darntoothysam.com Digital Camera Repair
Things to check first for a camera that won't turn on are battery contact points, and micro switches that are located on the battery and memory card doors. Troubleshooting tips on other things that need to be checked may be seen here. These tips won't work for every case, but they're worth a try.
The low-battery indicator will appear near the upper-right corner of the display when the battery level drops. If it's not there then the battery level is fine. When it appears, get ready to replace or recharge the battery.
That's a hard one to analyze through email. A camera tech would have to use test equipment on it to see if the power section got shorted when the door opened when it hit the floor. It may not be a cheap or easy fix, but only a tech can tell. I have heard of cameras getting damaged, just from putting batteries in backwards, so a short circuit might have damaged a chip inside. Of course a warranty does not cover dropped cameras, but you might want to have them look at it and tell you what it will cost.
Did you reolaced battery that evening, if you did then try holding the battery door tight and the turn it on. If this will solve it it means that there is a play in battery door that happens very often if someone is not careful enough while replacing battery or merory card.
Your LCD is broken. I'm an Imaging Salesman at Circuit City and I would normally say to get the LCD fixed but that would be a waste of money due to the fact that this model was released in 2004 and you would be better off getting a new camera.
If you are looking for another Canon.... For good quality and "user-friendliness" i would suggest the:
Canon SD1000, SD870, SD750 (Thin, sleek designs that come with rechargable batteries)
For more a more convenient price without loss of quality you might want to check out the Canon PowerShot A560. (A somewhat large and bulky camera that runs on regular AA batteries)