Squelch filter not working on old FRS... how to replace? (pictures included)

Hey everyone,

I just picked up some cheap toy walkie talkies (GE Starcode 11) and I’ve noticed that when the signal is open, set to receive, its extremely noisy. I’m new to 2 way radios but from what I read it sounds pretty obvious that something in the squelch circuit is dead.

I’m pretty handy with a multitool and soldering iron, so I’m happily prepared to make any repairs, however I know next to nothing about radio circuitry. I’ve taken photos of the front and back of the circuit boards.

Can someone point me in the right direction? Which component could be foul? How to test and what to look for?

Thanks!

Pics:
Imgur

Imgur

From one of the photos, it appears at least one soldered contact near the volume pot is damaged. It is difficult to tell because the board is flipped around in the other photo, but it could be the large capacitor next to the knob or something underneath it. Either way, the contact seems to be badly burned.

Incidentally, FRS is in the UHF band. This radio operates on 49MHz VHF, so it is technically not an FRS radio.