Iphone 4 dropped and screen is black and white and blinking rapidly?

I recently dropped my iphone 4 yesterday and after wards it worked perfectly fine with no cracks, except for a black spot in the corner of the screen. When I woke up today I pressed the home button to turn on my phone to see that it had vertically black and white lines blinking rapidly on the screen. It is almost impossible to see anything on my phone. I can still receive texts and calls and vice versa. I tried hitting it on the side and back, resetting it, letting it die and charging it for a whole day. I bought it used -there were two cracks in the back and the front screen was replaced, meaning the previous owner probably dropped it as well. I do not have the time or money to replace it, is there anyway I can fix it by myself?

I'm sorry to tell you that your phone is broken. I would take it up to an apple store as soon as you can for a replacement for $199 otherwise it will cost you more.