Read file line by line and return all to a variable in NodeJS

I need to read a file line by line and store the result in a variable, is that possible?

const fs = require('fs');

const allFileContents = fs.readFileSync('test.log', 'utf-8');
allFileContents.split(/r?n/).forEach(line =>  {
  console.log(`Line from file: ${line}`);
  return line; *<-- Returns undefined because it goes through all the lines of the file, but could everything be stored in a single variable to return the result?*
});

File example:

1 Word
2 Word
3 Word