I accidentally dropped my phone into the toilet and now when I put my headphones in I keep getting a lot of static. What...

Your problem is twofold either your motherboard has been corroded or the your audio jack has rusted on the inside. You can do one of two things. You can either solder on a new audio jack which might take a little work, but if you like tinkering this is a fun project. Secondly, you can replace the motherboard with a new one, and it will work good as new.

Since the LCD is actually attached to the main motherboard. It would be better to replace the entire motherboard. The only way to replace individual components on this phone is to take it apart and solder on new components.