Verizon Communications Inc. is preparing financial forecasts for the upcoming fiscal year to facilitate strategic planning and decision-making. The company analyzes historical financial data and market trends to project future revenues, expenses, and cash flows. Verizon considers factors such as economic indicators, industry benchmarks, and regulatory changes in its forecasting process.

Develop a comprehensive financial forecast for Verizon, including income statement, balance sheet, and cash flow statement projections. Discuss the key assumptions and risks associated with the forecast.