Step 1: Begin by understanding the process of photosynthesis. Photosynthesis is the biochemical process by which plants, algae, and some bacteria convert light energy into chemical energy stored in glucose (C$_6$H$_{12}$O$_6$). This process occurs in the chloroplasts of plant cells.
Step 2: Identify the main inputs of photosynthesis. The inputs are carbon dioxide (CO$_2$), water (H$_2$O), and light energy. These are essential for the light-dependent and light-independent reactions that drive photosynthesis.
Step 3: Recognize the main outputs of photosynthesis. The outputs are glucose (C$_6$H$_{12}$O$_6$), which serves as an energy source for the plant, and oxygen (O$_2$), which is released as a byproduct into the atmosphere.
Step 4: Recall the overall chemical equation for photosynthesis: 6CO$_2$ + 6H$_2$O + light energy → C$_6$H$_{12}$O$_6$ + 6O$_2$. This equation summarizes the transformation of inputs into outputs during the process.
Step 5: Compare the given options to the correct inputs and outputs of photosynthesis. The correct answer is: Inputs: CO$_2$, H$_2$O, light energy; Outputs: C$_6$H$_{12}$O$_6$, O$_2$. This matches the chemical equation and the biological understanding of photosynthesis.