The engine will have ingested water. The piston will now be in hydraulic lock. If you try to turn the shaft, you will probably snap the connecting rod. Simply take out the glow plug and let the water drain out. Squirt a bit of fuel into the cylinder and flood the case through the carburetor. With the glow plug still removed, turn over the crank by hand and make sure the muffler drains as well.
Setting the airplane right side up, you can then give the crank a whirl with your electric starters making sure to keep your eyes out of any spray coming from the glow plug hole. While all this is going on, you can hook your glow plug up to its electrical driver to dry it out. Put in the glow plug and start the engine as soon as possible. The heat from combustion will purge all the water and the lubricant in the fuel will coat the bearings. The worst thing to do is let the water rust the bearings.
If your receiver got wet, Take off the wrappings and lay it out in the sun to dry, or take it back to your car start the engine disassemble the receiver electronics from the case lay the parts on the dash set the demister blower to full and your receiver will soon be ready for use again following a complete test Do not use until it has been fully tested for range and operation. Never fear though, once dried out, it will be just fine. However, if you were flying off salt water, the news is probably very bad. The saline solution will damage the electronics very quickly.