Dropped Magnavox TV

Question

I got a TV from a friend who's son had dropped it. The TV turns on and the sound is fine. The picture comes up with about 1/4" wide stripes of red green and blue in a wavy pattern over the picture. You can see the picture OK but have the bands of color over it. When it would normally have white text (say menus) they show up as rainbow colores letters. Is there something simple to fix it or is there some particular damage I should be looking for that would reflect these symtoms. I'm a mechanical engineer who likes to tinker and should be able to track down any components you can describe to me.